Sri Lanka’s trade deficit hit a 12-year low in 2022 as a result of resilient export performance, particularly industrial exports, and the sharp decline....

Central Bank Governor Dr. Nandalal Weerasinghe said regardless of the future elections, he wants to see a continuation of the economic reform path the country has embarked on, as it is the only way to come out of the current crisis.

As Sri Lanka is yet to tackle issues from the domestic and international fronts that are impacting its economy, President Ranil Wickremesinghe....

Sri Lanka’s economy will fare better this year than it did in the previous year, where the economy is estimated to have contracted by about 9 percent but consumption is expected to contract till about the second half of the year, the Ceylon Chamber

Central Bank employees yesterday staged a protest supporting the ‘Black Week’ already announced against the increased income tax rates, which came into effect from this month, calling such steeply high tax rates are unbearable and unjust. Last we

The Central Bank yesterday left its key policy rates at their elevated levels for the fourth consecutive month, as it awaited the recently implemented measures to put further downward pressure on yields and short-term rates, while inflation expectati

As businesses across diverse sectors are still hoping for some relief by way of debt moratoria, the Central Bank yesterday indicated that it does not encourage the continuity of such packages as that could take a heavy toll on the banking sector.

The tourist arrivals to Sri Lanka in the first three weeks of January have topped 70,000, indicating the island nation’s tourism industry is firmly on the recovery path.

Sri Lanka is hopeful of China extending its financing assurances to unlock the bailout package from the International Monetary Fund (IMF), the Ministry of Finance said, as the creditor has taken the first step in affirming its commitment to the islan

Public Utilities Commission of Sri Lanka (PUCSL) Chairman Janaka Ratnayake yesterday alleged that the country’s political authorities have influenced three commission members to revise the earlier unanimous decision to reject the interim and retros

Due to insufficient data and lack of industry engagement, Sri Lanka’s free trade agreement (FTA) negotiators are faced with the daunting task of service sector liberalisation as the country prepares to resume negotiations for proposed comprehensive

The Central Bank Executive Officers’ Union expressed its strong objection against the higher personal income taxes, which came into effect from the beginning of this month and condemned the manner in which they were implemented without a proper ana

For the first time in the country’s history,the government yesterday announced that salaries to public sector employees may get delayed....

As the limits on accessing the Central Bank’s standing facility windows by the licensed commercial banks came into effect from this week,

Sri Lanka’s private credit fell again in November for the sixth consecutive month, reflecting the deepening contraction seen....

With the aim to boost foreign exchange earnings from locally produced alcoholic beverages, the Excise Department has granted approval to produce cider and milk punch, with local ingredients, for export markets.

Banking on renewed foreign investor sentiment and expected recovery in the economy in the second half of the year, the Colombo Stock Exchange (CSE) is set to introduce a suite of new products to the market this year, while making its platform availab

The Executive Board sign-off for the International Monetary Fund (IMF)-sponsored bailout package for Sri Lanka may not happen until the second quarter of this year, as the country is likely to see delays in obtaining financing assurances from its bil

As State coffers have run dry owing to the steep contraction of the economy last year, President Ranil Wickremesinghe has instructed all ministries to cut five percent of their allocated budgets for 2023 to manage limited funds by prioritising salary

Sri Lanka’s earnings from exports declined for the second consecutive month in November while the trade deficit widened from the previous month, as the global economy slows down amid decades-high inflation and rise in interest rates to tackle the s

As South Asian economies have been focusing on digitalisation efforts to uplift the overall government and financial sector infrastructure, the Central Bank of Sri Lanka asserted that improving focus in this arena....

The Central Bank this week said it would review the single borrower limits in a bid to cut the excessive exposure of some banks,

The Central Bank yesterday laid out its short to medium-term policy path and a slew of other measures that it intends to roll out primarily to restore price stability and to maintain the financial system’s health, as Sr Lanka struggles to emerge fr

The Central Bank this week announced changes to open market operations to start the year by limiting licensed commercial banks’ access to its Standing Deposit and Lending Facility windows, which together determines the overnight liquidity level in

Sri Lanka tourism ended the year 2022 on a positive note, as the arrivals of international visitors to the country for the final month of the year crossed the 90,000 mark, while the total arrivals for the year topped 700,000.

Last year saw foreign investors returning to the rupee denominated bills and bonds, specially towards the end of August amid the optimism....

Colombo inflation, measured on an annual basis, eased for the third consecutive month in December, continuing the disinflation path envisaged by the Central Bank after the consumer prices peaked in September.

Sri Lanka’s banking sector, which is usually resilient and generates consistent profits across economic cycles took a heavy beating this year, causing the sector to fall out of favour with the investor community.

At a time when the entire country is up in arms against the proposed monster power tariff hike in less than five months into the first one in August, Sri Lanka’s national management accounting body,

Sri Lanka’s hotel industry yesterday condemned the proposed move by the government to further hike electricity tariffs, asserting....